mean test pension credit

arnoldy

Who are you to accuse someone who has modest savings by being careful as "smug"?

[Deleted User]

arnoldy said:

Who are you to accuse someone who has modest savings by being careful as "smug"?

    Freedom of speech my dear. Have no problem with you having savings, more your attitude towards those who do not. (in many cases through no fault of their own)

Keep_pedalling

mei388 said:

I am a pensioner, I strongly believe that the goverment mean test pension credit on saving income  is extremely unjustified . It said " £1 a week income per £500 of savings above £10,000 " so if you have saving of £17000, saving income £14  per week £728 per year. Do they know that you will need annual saving interest of  4.3% to earn £728 saving income. 4.3% is far from the currant rate of £1.8% or may be 3% one year fixed, weekly income £200 or more, not qualify to claim  pension credit. Full state pensions is just over £185.10/week, the currant cost of living criss and the likely approaching recession scenario, what can this little saving of £17000 can help an old age pensioner.  not much I guess  
On the other hand, According to an Open Democracy report in April, MPs had charged taxpayers £420,000 for energy bills on their second homes over three years. High earner can claim from the tax box without mean test without limits, how can it be justify?
I am very disappointed indeed!

How things change in a couple of months, those rates are now easily obtainable.

DairyQueen

[Deleted User] said:

Flugelhorn said:

[Deleted User] said:

There has to be a limit somewhere. Be grateful you have savings, many do not. 

I think that having savings is often down to luck for which we should be grateful but more down to being careful and not spending every bean there is.  I have loads more savings than my friend (same job) but she travelled the world and bought expensive cars and is now feel short on savings 

However, she has probably enjoyed the travel and the cars. Much better than taking it to the grave. Yes I understand you do need to plan for your future self but there needs to be a balance. Life is for living. I find myself increasingly at odds with the philosophy of some of the boards and threads on MSE that champion building wealth, tax evasion, saving and leaving loads for the family above all else. Plus of course work another year to make that pot a little bigger. When I look back on my life I have more regrets about the things I haven’t done or the risks that I didn’t take rather then having a few savings  in the bank !

There is an easy solution.... unsubscribe.

Why do those with secure inflation-linked, public sector DB pensions (that's you, isn't it?) think it's OK to criticise the sacrifices made by those with with less secure pension arrangements, who need to manage the risks that they face in retirement? (rhetorical).

Childless? Yes, that's you, isn't it? No surprises that you don't understand the motives of those who have direct heirs.

Still ad hoc working (teaching) post retirement to build extra pension and earn more? Yes, that's you, isn't it? Why then criticise those who lack cushtie public sector pensions choosing to OMY pre-retiring?

Oh... and tax 'evasion' is illegal. Tax avoidance OTOH is both legal and sensible.

Albermarle

DairyQueen said:

[Deleted User] said:

Flugelhorn said:

[Deleted User] said:

There has to be a limit somewhere. Be grateful you have savings, many do not. 

I think that having savings is often down to luck for which we should be grateful but more down to being careful and not spending every bean there is.  I have loads more savings than my friend (same job) but she travelled the world and bought expensive cars and is now feel short on savings 

However, she has probably enjoyed the travel and the cars. Much better than taking it to the grave. Yes I understand you do need to plan for your future self but there needs to be a balance. Life is for living. I find myself increasingly at odds with the philosophy of some of the boards and threads on MSE that champion building wealth, tax evasion, saving and leaving loads for the family above all else. Plus of course work another year to make that pot a little bigger. When I look back on my life I have more regrets about the things I haven’t done or the risks that I didn’t take rather then having a few savings  in the bank !

There is an easy solution.... unsubscribe.

Why do those with secure inflation-linked, public sector DB pensions (that's you, isn't it?) think it's OK to criticise the sacrifices made by those with with less secure pension arrangements, who need to manage the risks that they face in retirement? (rhetorical).

Childless? Yes, that's you, isn't it? No surprises that you don't understand the motives of those who have direct heirs.

Still ad hoc working (teaching) post retirement to build extra pension and earn more? Yes, that's you, isn't it? Why then criticise those who lack cushtie public sector pensions choosing to OMY pre-retiring?

Oh... and tax 'evasion' is illegal. Tax avoidance OTOH is both legal and sensible.

Hear Hear . If I remember rightly Baron Dale has a £20K pa guaranteed income from a Final Salary Pension. To generate that from a pension pot would need about £500K and even then it would not be 100% secure.

MouldyOldDough

arnoldy said:

Get 1p under the means testing pension limit and the door opens to a treasure trove of benefits and freebies, for example no TV licence, access to all sorts of heating benefits and schemes, council tax £thousands off.....

You really are worse of if you are just over the limit, very unfair and a disincentive for saving and doing the right thing if you are better off casting yourself on the state. How can this possibly be right?

The worst thing is if you are half way through watching the Strictly final when you suddenly realise that your interest on your savings has taken you just over £17k and you are forced to turn the TV off to save breaking the law due to your free TV license T&C's..... 

[Deleted User]

Jealousy is terrible thing! I worked very hard for 40 years in my job often in very challenging circumstances. How dare you criticise my pension arrangements. I am furious at these comments. I undertook my career from a sense of vocation. I never even considered the pension scheme at the time. I just wanted to do my best to help as many people as possible achieve their potential. Interestingly, I was the only one of my group of university friends who went to university. They have all earned 3 to 10 times per annum my highest ever salary. Do I mind? Absolutely not! Why, because I was doing what I loved. Most of them have DC pensions and have retirement incomes far in excess of mine. It is not my fault that your pension arrangements are insecure. 
If your only solution is to drag down others and blame them for your woes what sad people you are.

Albermarle

Nobody queried how hard you worked, or that you did it all out of a sense of vocation, and for sure nobody said you don't deserve your pension/ good retirement.

Just that comments like this in bold can grate a bit, as it is easy to say, when you do not need the savings, and the taxpayer is guaranteeing your inflation linked pension.
I find myself increasingly at odds with the philosophy of some of the boards and threads on MSE that champion building wealth, tax evasion, saving and leaving loads for the family above all else. Plus of course work another year to make that pot a little bigger. When I look back on my life I have more regrets about the things I haven’t done or the risks that I didn’t take rather then having a few savings  in the bank !

[Deleted User]

DairyQueen said:

[Deleted User] said:

Flugelhorn said:

[Deleted User] said:

There has to be a limit somewhere. Be grateful you have savings, many do not. 

I think that having savings is often down to luck for which we should be grateful but more down to being careful and not spending every bean there is.  I have loads more savings than my friend (same job) but she travelled the world and bought expensive cars and is now feel short on savings 

However, she has probably enjoyed the travel and the cars. Much better than taking it to the grave. Yes I understand you do need to plan for your future self but there needs to be a balance. Life is for living. I find myself increasingly at odds with the philosophy of some of the boards and threads on MSE that champion building wealth, tax evasion, saving and leaving loads for the family above all else. Plus of course work another year to make that pot a little bigger. When I look back on my life I have more regrets about the things I haven’t done or the risks that I didn’t take rather then having a few savings  in the bank !

There is an easy solution.... unsubscribe.

Why do those with secure inflation-linked, public sector DB pensions (that's you, isn't it?) think it's OK to criticise the sacrifices made by those with with less secure pension arrangements, who need to manage the risks that they face in retirement? (rhetorical).

Childless? Yes, that's you, isn't it? No surprises that you don't understand the motives of those who have direct heirs.

Still ad hoc working (teaching) post retirement to build extra pension and earn more? Yes, that's you, isn't it? Why then criticise those who lack cushtie public sector pensions choosing to OMY pre-retiring?

Oh... and tax 'evasion' is illegal. Tax avoidance OTOH is both legal and sensible.

Excuse me but many of the so-called tax avoidance schemes are just ways of getting certain people out of paying sufficient tax. Many stretch the law and serve a dubious moral purpose.
I continue to work part-time as I enjoy the work and post pandemic there is chronic shortage of teaching staff in some areas. Without my input some students would not have been able to take their GCSE in my subject. 
I am no longer paying into the pension scheme and even if I was, why should you be so angry about it?
You also seem angry that I am 'childless'. Rather a thoughtless comment as you may not be aware of my circumstances. How do you know that I have not lost children?
I think you need to calm down and take care when making comments that are potentially upsetting for others.
You have also misunderstood the gist of my original post. I was merely making the point that I personally wish I had taken more risks and regret not doing so.  I realise that life experiences are more important than having savings in the bank. I have no problem with people that do.
Finally, I am entitled to have the view that people should not feel obliged to leave something for their heirs (Who do not necessarily have to be their children). Especially if it means that they themselves miss out on life's pleasures and comforts in their own retirements.

[Deleted User]

DairyQueen said:

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There is an easy solution.... unsubscribe.

Why should I unsubscribe just because I have a different opinion and outlook.